Jay-Z already bought part of an NBA team, but now he wants to represent those players. His company announced today it would start taking on clients from the sports world, and they’re starting with one of the best.
Shawn Carter, better known as Jay-Z, has always been an entrepreneur when it comes to his brand, and last year he ventured into the world of sports when he helped bring the New Jersey Nets to his hometown of Brooklyn. But it looks like the rapper likes the taste of the sports world, and has decided to be an important part of it.
According to ESPN, Jay-Z announced Tuesday that he would be joining the Creative Artists Agency to start his career in the “sports representation” business, and has taken on his first client. New York Yankee Robinson Cano announced his new agent in a statement.
“At this point in my career, I am ready to take a more active role in my endeavors on and off the field,” Cano said. “I am confident that the pairing of Roc Nation Sports and CAA Sports will be essential in helping me accomplish my short and long-term goals. I am making this important decision now so I can keep my focus on helping the Yankees succeed in 2013, while minimizing any distractions for me and my teammates.”
Darren Rovell with ESPN explained that Cano is in the final stages of a $57 million, six-year deal with the Yankees, and just left his agent. But, unlike past rap stars who have attempted to make the career change to sports agent, Cano isn’t in much risk of this decision being a catastrophe for his career.
“It’s not as if the team negotiating for Cano is inexperienced, like the much hyped partnership between Ricky Williams and rapper Master P’s No Limit Sports, which resulted in one of the worst contracts in history,” said Rovell. “Cano will be represented by CAA Sports baseball group, which says it has negotiated $1.1 billion worth of deals, including four contracts that exceeded $100 million, in the last two years alone.”
For now, Jay-Z is planning on becoming a certified sports agent, starting in baseball. But he hopes to venture out into the world of basketball and football eventually. If he does make the transition to basketball, Rovell said he will be forced to give up his “small share” of the Brooklyn Nets.
Jay-Z’s company Roc Nation will initially launch its sports branch with CAA, but will eventually become its own entity. The company already manages music stars, such as Rihanna, Shakira and Timbaland.